JPMorgan raised the firm’s price target on Carvana (CVNA) to $300 from $230 and keeps an Overweight rating on the shares post the Q3 report. The company’s core operations continue to exceed expectations while the marketplace re-entry demonstrates Carvana’s “infrastructure moat,” the analyst tells investors in a research note. The firm increased EBIDTA estimates, saying Carvana remains its top pick in the auto retail ecosystem.
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